Eli Lilly and Company (NYSE:LLY) Shares Bought by United Asset Strategies Inc.

United Asset Strategies Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,296 shares of the company’s stock after purchasing an additional 214 shares during the quarter. United Asset Strategies Inc.’s holdings in Eli Lilly and Company were worth $4,794,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LLY. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the second quarter worth $32,000. Morton Brown Family Wealth LLC increased its position in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares in the last quarter. Core Wealth Advisors Inc. raised its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Activest Wealth Management purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $39,000. Finally, Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 139,490 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $852.29, for a total value of $118,885,932.10. Following the transaction, the insider now owns 97,869,320 shares in the company, valued at $83,413,042,742.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 897,283 shares of company stock valued at $805,651,743 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, August 19th. BMO Capital Markets increased their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $960.02 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $912.41 billion, a price-to-earnings ratio of 141.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a 50 day moving average price of $892.64 and a 200 day moving average price of $822.54.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts anticipate that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.